{"id":4317,"date":"2018-01-20T23:47:58","date_gmt":"2018-01-20T23:47:58","guid":{"rendered":"https:\/\/davidgerard.co.uk\/blockchain\/?p=4317"},"modified":"2018-05-22T12:35:37","modified_gmt":"2018-05-22T12:35:37","slug":"news-sec-tether-lightning-network-economics-altcoin-pumping-even-ripple-users-dont-use-xrp","status":"publish","type":"post","link":"https:\/\/davidgerard.co.uk\/blockchain\/2018\/01\/20\/news-sec-tether-lightning-network-economics-altcoin-pumping-even-ripple-users-dont-use-xrp\/","title":{"rendered":"News: SEC, Tether, Lightning Network economics, altcoin pumping, even Ripple users don&#8217;t use XRP"},"content":{"rendered":"<ul>\n<li>SEC to bankers proposing Bitcoin ETFs: <a href=\"https:\/\/www.sec.gov\/divisions\/investment\/noaction\/2018\/cryptocurrency-011818.htm\">you have to make sure this stuff isn&#8217;t trash, actually.<\/a> Specifically, that it has enough liquidity. That is, <em>actual money available<\/em>.<\/li>\n<\/ul>\n<ul>\n<li>Speaking of which, even bitcoin.com is getting a bit pointed about <a href=\"https:\/\/news.bitcoin.com\/tether-printing-press-in-high-gear-issuing-400-million-in-four-days\/\">the speed of the Tether printing press.<\/a> You know, it&#8217;s almost as if the <i>actual<\/i> ideology of Bitcoin is &#8220;number go up&#8221; and all else is secondary to this vision. My current work in progress is an article properly explaining Tethers. I&#8217;m 1500 words into a pile of paragraphs and notes. Here&#8217;s to the whole thing not collapsing before I post.<\/li>\n<\/ul>\n<ul>\n<li>The Lightning Network is live on the main Bitcoin network! It has a number of minor problems, like the bug where if you restore a backup of your Bitcoin wallet, you can <a href=\"https:\/\/www.wired.com\/story\/the-lightning-network-could-make-bitcoin-faster-and-cheaper\/?mbid=social_twitter\">lose the money in your channels<\/a>, and the <a href=\"https:\/\/www.coindesk.com\/lightning-network-may-not-solve-bitcoins-scaling-trilemma\/\">economics<\/a> is <a href=\"http:\/\/www.coppolacomment.com\/2018\/01\/probability-for-geeks.html\">still ridiculous.<\/a> But how are they dealing with the problem of making sure money can travel through the network, even though people aren&#8217;t compelled to lend to transactions wanting to pass through their channel? <a href=\"http:\/\/www.coppolacomment.com\/2018\/01\/lightning-and-fat-controller.html\">Centrally enforced lending!<\/a><\/li>\n<\/ul>\n<ul>\n<li><a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2018\/01\/02\/news-nvidia-blockchain-new-us-crypto-tax-rules-the-cryptoruble-returns-bitcoin-vs-islamic-law-advertising-on-the-blockchain-the-ripple-pump\/ripple\/\" rel=\"attachment wp-att-3766\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-3766\" src=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2018\/01\/ripple.png\" alt=\"\" width=\"150\" height=\"150\" \/><\/a>BuzzFeed on <a href=\"https:\/\/www.buzzfeed.com\/ryanmac\/heres-how-scammers-are-using-fake-news-to-screw-with-bitcoin?utm_term=.rfe75qxDa#.tu54owQyP\">altcoin pumping.<\/a> They asked James Altucher about his unfortunate prediction concerning <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2017\/09\/24\/amazon-is-accepting-bitcoin-spoiler-there-is-no-evidence-nor-reason-for-amazon-to-accept-bitcoin\/\">Amazon taking Bitcoin<\/a> as of October 2017, even though he post-edited the blog post in question to say &#8220;February&#8221;; apparently, saying &#8220;potentially as early as&#8221; covers a headline saying <strong>&#8220;I am certain&#8221;<\/strong>. Sadly, the article did not ask how Altucher <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2018\/01\/19\/news-450m-tethers-this-week-bitconnect-shuts-down-gpu-miner-viruses-us-treasury-unbanking-the-banked-altcoin-fraud\/\">knew who Satoshi was.<\/a> Ryan Mac, the article&#8217;s author, is <a href=\"https:\/\/twitter.com\/RMac18\/status\/954373542023278593\">not a fan of Altucher.<\/a><\/li>\n<\/ul>\n<ul>\n<li>Ripple calls XRP the &#8220;global liquidity solution for payment providers and banks.&#8221; The Financial Times asked 16 banks who&#8217;ve touched Ripple&#8217;s other software if they&#8217;d used XRP. The number was, of course, <a href=\"https:\/\/www.ft.com\/content\/f739f48e-f62a-11e7-8715-e94187b3017e?desktop=true&amp;segmentId=d8d3e364-5197-20eb-17cf-2437841d178a\">zero.<\/a><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I really like the first page of \u201cAttack if the 50 foot blockchain\u201d <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a> <a href=\"https:\/\/t.co\/2xPW4XknVT\">https:\/\/t.co\/2xPW4XknVT<\/a> <a href=\"https:\/\/t.co\/QlxXSEWQj3\">pic.twitter.com\/QlxXSEWQj3<\/a><\/p>\n<p>&mdash; David Gregory-Kumar (@DrDavidGK) <a href=\"https:\/\/twitter.com\/DrDavidGK\/status\/954466267204870145?ref_src=twsrc%5Etfw\">January 19, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The 6 stages of <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a> news propaganda:<br \/>1. Buy the dip.<br \/>2. This is a healthy correction.<br \/>3. This is not a crash.<br \/>4. How to survive the cryptocurrency crash.<br \/>5. How to get a second mortgage to buy cryptocurrencies on the cheap.<br \/>6. How to find job ads in your local newspaper.<\/p>\n<p>&mdash; Trolly McTrollface (@Tr0llyTr0llFace) <a href=\"https:\/\/twitter.com\/Tr0llyTr0llFace\/status\/953515606552317953?ref_src=twsrc%5Etfw\">January 17, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<br><br><div align=\"center\"><p><a href=\"https:\/\/www.patreon.com\/bePatron?u=8420236\"><img src=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2021\/10\/become_a_patron_button.svg\" alt=\"Become a Patron!\" title=\"Become a Patron!\" width=217 height=51><\/a><br><p style=\"align:center;\" class=\"patreon-badge\"><i>Your subscriptions keep this site going. <a href=\"https:\/\/www.patreon.com\/bePatron?u=8420236\">Sign up today!<\/a><\/i><\/p><\/div>","protected":false},"excerpt":{"rendered":"<p>Some more news bits while I endeavour to untangle Tether.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[233,6,338,33,39,339],"class_list":["post-4317","post","type-post","status-publish","format-standard","hentry","category-uncategorised","tag-lightning-network","tag-links","tag-ripple","tag-sec","tag-tether","tag-xrp"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/4317","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/comments?post=4317"}],"version-history":[{"count":13,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/4317\/revisions"}],"predecessor-version":[{"id":7290,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/4317\/revisions\/7290"}],"wp:attachment":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/media?parent=4317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/categories?post=4317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/tags?post=4317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}